Financial terms of the transaction were not disclosed. An announcement said CAA’s newly named CAA Brand Management division will be integrated into the day-to-day operations of the agency.
Co-led by Perry Wolfman and Noah Gelbart, both experienced executives in the sector, CAA Brand Management has more than 160 employees. With offices in 17 countries, including the U.S., UK, China, India and Brazil, the group will continue to focus on revenue-generating, brand-extending campaigns for a range of clients.
“CAA Brand Management is a best-in-class service offering, with a global footprint, and impactful capabilities and expertise in the brand extension space,” CAA President Jim Burtson said in the official announcement.
CAA has spent decades exploring consumer product partnerships and licensing in various ways. Its rechristened brand management arm currently runs programs for Budweiser, Coca-Cola, Formula One, Jaguar Land Rover, the Bob Marley Estate, Minecraft, Netflix and many others.
“Our clients are always looking for new and innovative ways to engage with audiences, be it through their stories, their passions and priorities, or their values and beliefs,” CAA Co-Chairman Kevin Huvane said. “This talented group of executives have built award-winning branded programs, and we are excited to bring their expertise in-house.”
In a joint statement, Wolfman and Gelbart said the integration of their group into CAA’s day-to-day operations “will provide us unique access to CAA’s resources and relationships, which will amplify our efforts globally.”
Wachtell, Lipton, Rosen & Katz, Macfarlanes LLP, and White & Case LLP served as legal advisors to CAA.